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Spyker's $3B lawsuit against GM for blocking Saab sale thrown out

US District Judge Gershwin Drain has dismissed a $3-billion lawsuit Spyker filed against General Motors. In the suit, Spyker accused GM of attempting to bankrupt Saab after the US automaker had already sold the company to Spyker. GM in effect blocked the sale of Saab to China's Zhejiang Youngman Lotus Automobile Company by prohibiting the transfer of some of its intellectual property. But the court found that GM had a "contractual right" to approve or disapprove any change of ownership. Furthermore, Reuters reports Judge Drain said the contract between GM and Spyker "is clear, unambiguous and absolute" on the matter.
GM, meanwhile, says it is pleased with the ruling. Spyker CEO Victor Muller has not said whether or not his company will appeal the ruling. The Dutch automaker is expected to make a final decision once the court issues its written order on the case.
You can read the official Spyker press release about the court ruling below for more information.

Junkyard Gem: 2004 Saab 9-5 Arc Wagon

As I work on my project of documenting automotive history via the machinery I find in car graveyards around the country, blank spots in the junkyard record keep showing themselves. I've remedied the lack of discarded BMW 3- and 5-Series cars in recent months, through the E46 and E39 respectively, and now I'm trying to move past the 900 in the Saab timeline. We've got the 9000 covered, and now it's the turn of the 9-3 and 9-5. Here's an '04 9-5 Arc Wagon, found in a Denver yard recently (I shot a 9-3 on the same trip and you'll see it in the near future). General Motors took over Saab in 2000, after more than a decade of 50% ownership, and so the 9-5 (or 95 if you prefer) had plenty of Opel/Holden/Vauxhall DNA in its cells. Its closest American-market relative (other than the 9-3) was the Saturn L-Series. However, you couldn't get a Saturn with a proper Saab engine under the hood, and by "proper" we mean one descended from the original Triumph Slant-4. This 2.3T turbocharged version sent 220 horsepower to the front wheels, making this a nicely quick wagon. It appears that this car endured some lean times as it approached the end of its road, with the kind of leaky-side-glass repair you do only when you know you're a car's final owner. You could get the 9-5 Wagon as the Linear, Arc, or Aero models in 2004. The Aero was the factory-hot-rod version, while the Arc was more about luxury. The leather seats in this Arc still look pretty good. Even though this car's ancestry is more German than Swedish, it has the traditional Saab console-mounted ignition switch. When it came time for The General to sell Subaru Imprezas with Saab badging, however, the ignition switches stayed in the non-Saab locations. At least the Saab-badged Chevy Trailblazer had the switch in the Trollhatten-approved location. It doesn't look as quirky as the early Saabs, which were born from Flying Barrels, but it stood up well against the competing cars offered to America's ever-shrinking pool of station wagon shoppers. Built in Sweden by Swedes! Would this have happened with an Audi wagon?   Featured Gallery Junked 2004 Saab 9-5 Arc Wagon View 26 Photos Auto News Saab Automotive History Wagon Junkyard Gems

NEVS' reorganization plan approved after all?

What a difference a day makes. Thursday, we reported that current Saab parent National Electric Vehicle Sweden had its application for creditor protection denied by the Swedish court for being "vague and completely undocumented." But NEVS was back in court on Friday, and this time the application was granted. However, the story continued to get weirder as defense contractor Saab AB allegedly revoked NEVS' rights to use the Saab name.
NEVS did put out a brief press release confirming the court decision saying: "The District court of Vänersborg, Sweden, today August 29 approved the application for reorganization from National Electric Vehicle Sweden AB." The company allegedly has over 90 creditors, and according to Reuters, it owes them roughly 400 million Swedish krona ($57.56 million). The business says that it is in negotiations with two, unnamed companies to get additional funding.
Also, according to Reuters, Saab AB, best known for making fighter planes, has revoked NEVS' rights to the Saab brand name because the company's application for creditor protection gave the defense contractor that right. When NEVS bought Saab, it only acquired the automaker's physical assets, and had to negotiate for the rights to use the name.